Documentary of the Week: Put That "Equilibrium" Out!

September 19th, 2015
in News, econ_news, syndication

Breaking the Bad Habits of Economics

Econintersect: Steve Keen delivered this address to undergraduate students at Cartanega University in Colombia in August 2015 in which he compares the insistence on equilibrium modelling by economists to the bad habit of smoking.  The analysis of observable variables in the economy using a program based on process flow, such as used in engineering, does not show conditions of equilibrium but yields time varying functions with some time periods of little change which lead further in time to drastic change.


Follow up:


Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved